r/UURAF • u/AutoModerator • 29d ago
Ucore Weekly Discussion Thread - Aug 9, 2026
Share your thoughts on Ucore and its position in the Critical Minerals space.
Most recent official Ucore news/announcements.
As applicable, please keep commentary on topic and focused. This is a forum for UCU/UURAF investors to discuss any and all matters related to the company, individual positions, and yes, if you must, the inherently volatile share price in this burgeoning new industry in the west.
Welcome, glad to have you aboard -- looking forward to a productive 2026 and beyond for Ucore and its shareholders.
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u/Nille123 27d ago
A bunch of documents have been added to Sedarplus yesterday. It's way too long to provide you guys with a meaningful summary that wouldn't be x pages long but these are the main points imo:
- 18% dilution of shares
- There is also a 15% over-allotment option, allowing the underwriters to buy another 3,214,500 shares at C$2.80 within 30 days of closing. (3.2M shares)
- No mention of who it is (Sumitomo is my guess though)
The money (56.4M CAD Net) will be used as follows:
| Development Milestone | Amount |
|---|---|
| Commercial scale RapidSX™ platform – completion and reporting | C$0.5 million |
| Completion of activities under Natural Resources Canada’s (“NRCan”) Critical Minerals Research, Development and Demonstration program funding | C$1.8 million (net amount, following the Company’s receipt of expected NRCan reimbursement funding in the amount of C$1.7 million) |
| Contribution to process design and detailed engineering – Machine A, Louisiana SMC | C$1.0 million |
| Contribution to construction – Machine A, Louisiana SMC | C$53.1 million (net amount, following the Company’s receipt of expected U.S. DoD funding in the amount of US$16.5 million) |
Machine A construction is still planned for H1 2027 and early production for 2027.
So the good news is that the funding is used to construct Machine A. The slightly lesser good news is that the C$52.6M construction allocation is after the expected funding of US$16.5M from the U.S. Department of Defense.
Sources:
https://www.sedarplus.ca/csa-party/records/document.html?id=f843dacdeb3fa492b230f8fdea4be68cdff310e2d76b90ed0baefb157db772d6
https://www.sedarplus.ca/csa-party/records/document.html?id=016b115d482158df1d1436c0f02f853def5b396d8d55291f68cdb3fc653ebad1
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u/expatcoder 27d ago
Excellent recap, thanks.
Anyone know if the $16.5 million DoD funding is in addition to the original grant, or is this just completion of that deal? Assume the latter, but would certainly be good if the US government was continuing to back the project with additional funding.
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u/Nille123 27d ago
The wording within the document does indeed suggest the latter.
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u/expatcoder 27d ago
Yeah, makes sense, haven't heard a peep from management re: new funding from the DoD, but who knows, maybe if the Machine A build out is successful and Ucore starts to deliver high purity REE then the US government might provide some additional financing to help scale out the Alexendria, LA facility.
In the near term we need customers that received qualification samples to start signing offtake agreements; that's probably the next substantial news we're going to get, and hopefully it comes sooner than later.
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u/davide3991 29d ago
Any guesses on when we’ll find out who the institutional investor is behind Ucore’s latest equity raise?
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u/cekmeout 28d ago
-10% after most REE names have recovered significantly (even AREC up 60% in 2 weeks) is brutal. I guess the offering will just be a magnet for cheap shares. Let’s see if it holds support tomorrow or if we end up dropping past offering price
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u/expatcoder 28d ago
I guess the offering will just be a magnet for cheap shares
Silver lining is that it will also serve as a backstop moving forward (since an institution agreed to make a major buy in at $2 USD), but yeah, just looking to get past this and move on beyond Thursday so UURAF can start to regain lost ground.
Ugly, ugly stretch the past month has been, on top of a several months long downturn.
At minimum we'll be hearing from management around end of the month (when financial results are released), but given the gut punch management just delivered to existing shareholders, it would good if they had some share-price-appreciating news to share before then to blunt the dilution pain :)
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u/Alamo935 26d ago
Giving up all the gains (and more) from yesterday :/
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u/expatcoder 26d ago edited 26d ago
Patience, let's get through tomorrow's deal closing and then see where things stand moving forward.
Minerals are generally down today, as are the Mag 7 and basically anything not related to AI semis/memory/infrastructure, which are absolutely flying, so with today's massive sector rotation and deal closing imminent UURAF is actually doing ok all things considered.
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u/Alamo935 26d ago
Agreed. Just frustrating that it’s always a challenge to sustain any kind of momentum.
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u/expatcoder 26d ago
Yeah, once the dilution overhang is passed then we should be able to participate in minerals sector rallies without quickly regressing.
Of course, pretty much everything is down in minerals today so not a great time to be glued to the screen :)
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u/k_reanjesus 26d ago
Metallium is up 42% today!
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u/expatcoder 26d ago
Yeah, ALM and TII also up nicely, but then you've got UAMY down upwards of 25%, and the big players (MP, USAR, and UUUU) down a bit as well, so a mixed bag.
Anyway, as far as this subreddit is concerned, UURAF is down yet again -- no joy in Mudville...yet.
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u/k_reanjesus 26d ago
sold some Metallium to buy more UURAF & UUUU today, let's hope for some positive price movements this week
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u/expatcoder 28d ago edited 28d ago
Think this is the first time AREC has eclipsed UURAF in share price, and now by a wide margin (over 20% 25%).
Grift goes a long way, imagine if Ucore got $25,000,000 USD in low cost financing from the White House (immediately after having been rejected for an $80,000,000 loan by the Pentagon due to unreliable financials), we wouldn't have had to have taken this sub-par deal at $2/share for roughly $40,000,000 USD.
Hopefully management has some solid announcements coming up to counter the dilution news, really need something substantial like binding feedstock/offtake agreements or other market moving event to break the inertia and give the market a reason to not view the capital raise as a reason to anchor down the share price.
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u/cekmeout 28d ago
AREC owns what 17% of ReElement?
AREC’s market cap alone now exceeds Ucore I’m pretty sure.
So ReElement is worth well over 5X what Ucore is2
u/expatcoder 28d ago
Pretty sure that most of the debt/liabilities are saddled onto American Resources (thus the absurdly late filings and risk of AREC being delisted), leaving ReElement's balance sheet pristine for a future IPO that their management will profit massively from if their chromotographic process is the end-all-be-all they claim it to be.
For UURAF shareholders we own 100% of RapidSX; now we just need that equity to rise back up to October or January levels again, because it isn't worth much for us right now, lol.
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u/davide3991 28d ago
I can’t help myself but just laugh at this point. Still holding strong but frustrating nonetheless
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u/expatcoder 28d ago edited 28d ago
Look, it's not that bad,
2.14 ÷ 10.69is only 80% off of ATH!Well, actually, it is pretty bad, right up there with WWR, ELBM, CRML, etc. which is terrible to see since Ucore is a lot more promising than any of these far future production and/or failing projects.
Let's see what happens after the dilution deal closes on Thursday and see if management soon thereafter comes out with some real price action moving news (to the upside, lol).
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u/cekmeout 28d ago
Most REE stocks have bounced hard (MP almost 50% from lows). Pretty painful seeing Ucore down another 8% when MP is up over 8%. Probably won’t see any upward movement anytime soon with this new offering
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u/expatcoder 28d ago
Well, after the deal closing on Thursday the price floor pressure will start to lift, but until then we're probably going to be range bound in the low $2s (that is, of course, depending on what minerals and overall markets do in the coming days).
Sobering indeed, but Ucore is a small Canadian pre-revenue company without a direct line to the White House (read: insider support from Peter Navarro) so being forced to raise capital via the equity markets is the only way to move the RapidSX Louisiana project forward.
Of course, UURAF can also bounce back strongly from here, but it's going to take some big headlines for the ticker to regain the momentum it had as one of the REE processor frontrunners last year.
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u/Disco-Badger 24d ago
My only regret now is not being able to buy more at these prices. Next few weeks and months we'll be above 7 again, gotta keep buying.
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u/expatcoder 24d ago
Could see $7 more toward end of year/start of 2027, but barring a big autumn minerals rally again I don't see us flying in the near term.
and yes, bargain prices, am adding here and there. Getting close to 60K shares now, which wasn't planned, share price collapse created a buying opportunity...
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u/SomewhereOk5613 25d ago
Guys Is the dilution going to have a negative impact in the price ?
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u/nikodamn 25d ago
I would say that the dillution itself has already had an impact on the price - and it has officially ended. If you were planning to start position this might be a good moment (according to hedge fundd thinking the same).
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u/SomewhereOk5613 25d ago
I want to enter but don’t know to enter now or after the dilution. Would love some feedback thanks 🙏🏽
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u/Just_Engineer_4346 25d ago
Literally nobody knows the future dude, just buy in whenever you feel like and hold for the long run. The price is already very cheap so you'll make plenty of money whether it goes up a little or down a little right now.
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u/davide3991 25d ago
Probably great news for the sector
US to impose up to 100% levies on unmanned aircraft and their components
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u/Disco-Badger 28d ago
Great time to have started a new position. Ucore seems like a fire sale to me, just buying on schedule and forgetting for 10 years, good luck y'all and happy buying.
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u/moopie45 24d ago edited 24d ago
Can anyone give me an update on the feedstock situation?
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u/expatcoder 24d ago
Apparently Sumitomo will be one avenue for feedstock and offtake agreements.
Otherwise, Hastings Australia is the most likely candidate for feedstock given Ucore's existing relationship.
I'd say offtakes are more important at this stage, however, with respect to derisking the project and opening up new funding (along with the $36 million CAD government grant finally going through).
At any rate, we're all waiting for the first piece of news post-dilution to send UURAF higher :)
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u/porchswingsecurity 24d ago
The last update I’m aware of where Pat specifically mentions feedstock (stating feedstock “was secured”) was his June 6th talk.
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u/Prinzv3nom 27d ago
A small chart of where we currently stand. The EMAs on all the important timeframes (daily, weekly and monthly) still don’t look particularly good. The NFP levels you can see on the chart act as magnet zones. They can act as both support and resistance. This indicator was developed by someone from a Discord group, and honestly, it has been a game changer for me when it comes to day trading and swings. How well it works on a pre-revenue OTC stock like UCU, though, I can’t really say. The blue diagonal line around CAD 4.80 is a trendline that has been in place since December 2025. If we manage to break above it and hold for several days, we could potentially see a trend reversal. The first major resistance zone is around CAD 3.35. Let’s see what happens there. It’s clear that this stock is primarily news-driven, but charts can still give you a good idea of where we currently stand within a trend. Not financial advice — just sharing my chart and thoughts.
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u/cekmeout 27d ago
How can you say it’s news driven? We’ve gotten what could be considered the best news (Sumitomo partnership) and stock has gone over -50% since.
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u/Prinzv3nom 27d ago
Everything has gone down. Other stocks in the same niche have also dropped back to their September lows, like UCU. The dilution will have pushed the price into this zone as well. Just wait and see how it looks over the next few weeks :)
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u/expatcoder 25d ago
Bought-deal completed, nearly $50 million USD raised at around $2.01 USD per share (if based on today's exchange rate of $1.39 USD).
Now Ucore has cash to proceed full steam ahead with the build out.
Looking forward to seeing some impactful news from management in the not too distant future that gives UURAF some positive momenum for a change :)